Sr Manager, Risk Management; Risk Manager

8901 - Corp Office West Crk - 12800 Tuckahoe Creek Parkway, Richmond, Virginia, 23238

Car Max, the way your career should be!

The Risk Manager plays a pivotal role in the development, strategy, and execution of Car Max’s risk and insurance program. The Risk Manager is responsible for the Company’s insurance programs which support over 250 retail locations and approximately 30,000 associates.

The Risk Manager oversees Car Max’s Workers’ Compensation (WC) program and leads the team responsible for handling WC claims. The Risk Manager ensures the WC program focuses on the safety of associates while complying with regulatory requirements and minimizing financial risk to the Company.

At Car Max, we are the nation’s largest retailer of used cars with stores from coast to coast, and we are still growing. We’re rethinking the way people buy cars - and it’s our associates that help us do just that. We believe work should feel meaningful and rewarding, with opportunities to make an impact every day. This is where innovation meets passion - be inspired and supported to take us to the future.

• With a high degree of independence, responsible for identifying, evaluating, and managing risks inherent across Car Max’s operations and to ultimately reduce Company exposure and financial risk
• Leads the overall strategy of all commercial insurance programs including, Auto Liability, General Liability, Workers’ Compensation/Employers’ Liability, Property, Executive Risk, Aviation, Storage Tanks, Business Travel Accident, and Motor Cargo
• Partners across diverse teams to create comprehensive underwriting submissions and drives insurance renewals and negotiations, including executive presentations to appropriately represent the Company to insurers
• Proactively analyzes program effectiveness to ensure insurance structures are aligned with Company’s exposures and risk tolerance levels
• Leads Workers’ Compensation strategy and overall program (including certain state-specific programs) to ensure injured associates are appropriately supported and claims are resolved effectively
• Manages WC associates; actively partners with associates to drive performance and career development
• Direct management and oversight of Car Max’s Bermuda-based captive insurance company; responsible for overall strategy, monthly analytics and reporting, local regulatory compliance, audits, premium determination, payments, and general administration
• Cultivates and maintains relationships with Car Max’s captive service providers, including actuaries, auditors, claims administrators, brokers, insurer(s), and legal counsel; plays an advisory role on the captive Board of Directors

• Proactively directs strategy and claim / settlement authority for litigated and/or complex Auto/GL/WC claims in conjunction with legal counsel and insurance carrier; matters include overall strategy, discovery requests, mediations, hearings, settlements, and trials
• For all claim types, provides corporate direction to drive successful resolution (reduced costs/exposures) via partnerships with insurance providers, third party claim administrators, and legal counsel

• Prepares annual budget and presents budget to Executive Leadership; provides updated forecasts throughout year
• Provides insurance updates for the Board of Directors / Audit Committee on a semi-annual basis
• Successfully executes relevant key SOX controls, reviews process documentation, and provides support for internal and external auditors
• Supports more than 250 store locations, including certificates of insurance, auto insurance cards, compliance items, claims inquiries, and general guidance
• Manages company surety bond program
• Collaborates across the organization to understand risk…